Coinbase and Gemini CEOs advocate for a Bitcoin-exclusive U.S. crypto reserve

Brian Armstrong and Tyler Winklevoss argue that Bitcoin is the most suitable digital asset for a national reserve, describing it as the natural "successor to gold."

The CEOs of Coinbase and Gemini believe Bitcoin is the only cryptocurrency that qualifies as a U.S. reserve asset.

Following President Trump’s announcement of a Crypto Strategic Reserve—including Bitcoin, Ether, Solana, Cardano, and XRP—Gemini’s Tyler Winklevoss stated that while he has no issue with these assets, they don’t meet the standard for a national reserve. He emphasized that a reserve asset should function as "hard money" and a proven store of value, similar to gold.

Coinbase’s Brian Armstrong echoed this sentiment, suggesting that Bitcoin alone would be the best choice due to its simplicity and role as gold’s digital successor. However, if a broader approach were taken, he proposed using a market cap-weighted index to ensure fairness in asset selection.

Cameron Winklevoss, co-founder of Gemini, believes that only Bitcoin—and possibly Ethereum—meet the criteria for a "store of value reserve asset." He compared them to the U.S.’s physical reserves, with Bitcoin acting as digital gold and Ethereum as digital oil, akin to the country’s gold and petroleum reserves.

Winklevoss also suggested that instead of purchasing XRP, ADA, and SOL directly on the open market, it would be more strategic to stockpile them.

Meanwhile, Samson Mow, CEO of Bitcoin technology firm Jan3, argued that only proof-of-work (PoW) cryptocurrencies should be included in the Crypto Strategic Reserve. He proposed that alongside Bitcoin, Litecoin could also be considered. Mow emphasized that proof-of-stake (PoS) assets should be excluded due to the risk of foreign actors gaining control simply by acquiring a large share of the asset.

Executives from Cardano and Ripple have voiced their support for the potential inclusion of their tokens in the Trump administration’s proposed Crypto Strategic Reserve.

When outspoken crypto critic Peter Schiff questioned XRP’s inclusion, Cardano founder Charles Hoskinson defended it, highlighting XRP’s strong technology, decade-long resilience, and dedicated community. “I think the president made the right decision,” Hoskinson stated.

Ripple CEO Brad Garlinghouse has also been a long-time advocate for a multi-token U.S. crypto reserve, similar to what Trump proposed on March 2.

The Crypto Strategic Reserve comes after weeks of review by the President’s newly established Working Group on Digital Assets. On March 7, Trump will host the first White House Crypto Summit, where industry leaders will meet with Working Group member Bo Hines and AI and crypto czar David Sacks to discuss regulatory policies, stablecoin oversight, and other key topics.